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TRANSPARENCY REPORT | AUDIT QUALITY

Quality monitoring

Quality Assurance Department

The Quality Assurance Department (QAD)

is a separate, independent department and

is responsible for checking compliance with

the firm's procedures and giving feedback

to promote continuing improvement in the

quality of work. It aims to be comprehensive,

consistent and critical yet constructive.

The monitoring procedures applied by QAD are

in accordance with the International Standard

on Quality Control (UK). The QAD team carries

out reviews of audit files, either in physical

visits to offices or remotely, and also reviews

'whole firm' matters such as the audit manual,

training programme, CPD records, appraisals and

ethical compliance, and internal controls, such

as internal authorisation, access to the audit

platforms and access and financial management.

QA file reviews cover a mixture of

client types and sizes, including the

various specialist audits such as

listed companies, charities, pension

schemes, social housing

and education.

RIs and managers are required to produce or

update a personal action plan after each review.

The Head of QAD reports monthly to the AMT

and quarterly to the Management Board,

setting out any current concerns and obtaining

prompt responses and actions as necessary.

QAD provides feedback to RAMPs and AQLs

about each RI and manager reviewed and this

information is then used within the appraisal

process as necessary.

The quarterly RI regional meetings are

attended by one of the QAD team members

and each meeting includes a section devoted

to audit quality.

Root cause analysis

In addition to the root cause analysis (RCA),

which forms part of each quality assurance

file review, a deep dive assessment was

completed in September 2020. This involved

detailed feedback from focus groups on

recurring concerns linked to audit evidence/

documentation and was focused on the North

West region. Adopting this approach to root

cause analysis allowed for more detailed

consideration of the causes of common findings

and issues. Alongside the outputs from the

standard RCA, these findings were built into the

plan and future training and support.

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